JPMorgan considers NYC HQ move

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JPMorgan Chase is considering moving its headquarters within New York as the company has fewer employees in the nation’s largest city, according to a person briefed on the discussions.

Bloomberg News reports the potential plans, which include taking office space in Manhattan developments at the World Trade Center or Hudson Yards, are in early stages and no decision is imminent, said the person, who asked not to be identified because the talks are private. JPMorgan has moved back-office jobs to New Jersey, Delaware and Florida to cut expenses, the person said.

JPMorgan sold its 60-story skyscraper at 1 Chase Manhattan Plaza last year to Shanghai-based Fosun International Ltd., and began moving 2,000 employees to offices in Brooklyn’s MetroTech Center this year. JPMorgan owns the Park Avenue building as well as the former headquarters of Bear Stearns Cos. at 383 Madison Ave., which it acquired in 2008.

Hit the link below to access the complete Bloomberg article:

JPMorgan Said to Consider Moving Site of NYC Headquarters

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